Market Ahead: Macro data, global cues, rupee and oil to guide market today

Investors will keep a keen eye on macro data such as IIP (Index of Industrial Production) data for January and CPI (consumer price index) inflation numbers for February, which are set to be released today. On the global front, a key vote by UK lawmakers on Theresa May's Brexit deal, scheduled for later in the day, will also be on the investors' radar.

Apart from this, stock-specific action and movement of rupee against the US dollar will be closely monitored.

The equity market ended with sharp gains on Monday. The S&P BSE Sensex reclaimed the crucial 37,000 mark to end at 37,054, up 383 points or 1 per cent. This was the biggest gain for the index in nearly six months. The 50-share Nifty added 133 points, or 1.23 per cent, to close at 11,068. Out of 50 constituents, 42 ended in the green.

STOCKS IN FOCUS

TVS Motor: The company has announced its second interim dividend of Rs 1.40 per share (140 per cent).

Jet Airways: Founder-Chairman Naresh Goyal sought Rs 750 crore from Etihad yesterday when the Etihad board discussed bank-led resolution plan for the airline. Also, Jet Airways has informed the exchanges that it has defaulted on part payment of a foreign loan due to liquidity constraints.  

HDFC Standard Life: Standard Life Mauritius Holdings, the JV partner in HDFC Life Insurance, is planning to sell 4.93 per cent stake in the life insurance firm at a floor price of Rs 357.50 per equity share, according to news reports.

Godfrey Phillips: The company yesterday issued a clarification on allegations that it was violating India's FDI norms regarding its arrangements for manufacturing Marlboro cigarettes.

TRADE SET-UP

Asian shares rose on Tuesday after the European Commission agreed to changes in a Brexit deal ahead of a vote in the British parliament on a divorce agreement. In early trade, MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.3 per cent, following on from a rally on Wall Street overnight. Australian shares were up 0.4 per cent, while Japan’s Nikkei stock index jumped 1.6 per cent.